Trump’s finances should be probed, top House Oversight Democrat says

President-elect Donald Trump’s finances should be reviewed for potential conflicts of interest, the top Democrat on the House Oversight and Government Reform Committee said Monday.

Rep. Elijah Cummings of Maryland, in a letter to his Republican counterpart, Rep. Jason Chaffetz of Utah, said Trump’s vast array of holdings needs scrutiny.

“We have never had a president like Mr. Trump in terms of his vast financial entanglements and his widespread business interests around the globe. Moreover, we have not had a presidential candidate in modern times who has refused to disclose his tax returns to the American people. Mr. Trump’s unprecedented secrecy and his extensive business dealings in foreign countries raise serious questions about how he intends to avoid conflicts of interest as president,” Cummings said in the letter.

Ethics laws do not actually require Trump to give up control of his portfolio, as both the president and vice president are exempted. Trump’s holdings include a vast array of real estate, golf courses and licensing arrangements.

Cummings said Trump’s reliance upon his children to operate his financial empire would not measure up to the definition of a “blind trust.”

“Congress has put in place several laws to avoid financial conflicts of interest — both actual and perceived. The Oversight Committee has direct jurisdiction over these financial interest laws and the White House,” he said.

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